Built by accountants for accountants, Bloomberg Tax & Accounting Leased Assets provides accurate classification, accounting, and reporting for leased assets under the standards IFRS 16 and ASC 842. A SaaS solution, Leased Assets integrates with ERP systems and streamlines your workflow.
Bloomberg Tax & Accounting Leased Assets Features
- Transition Accounting from ASC 840 to ASC 842 and IAS 17 to
- IFRS 16 reduces the risk of errors and financial discrepancies.
- Automated Lease Classification of operating or finance leases
- streamlines adoption and transition.
- Accurate Calculations performed at a daily level, such as
- right-of-use (ROU) asset and lease liability, amortization, and
- interest expense, save time and enable flexible reporting.
- Audit Trail tracks changes by user and maintains a complete
- history of every action to keep you on solid ground.
- Auto-Generated Journal Entries cut down on manual entries,
- improve accuracy, and speed up reconciliation.
- Standard Reports provide robust yet concise information on
- your lease portfolio: payment data, amortization schedules,
- ASC 842 and IFRS 16 disclosures, and strategic insight to
- inform management.
- Flexible Entity Management lets you track leased assets by
- entity, consolidate entities into groups, and manage custom
- calendars such as 52/53 week years.
- Document Management centralizes lease documents, attaches
- documents to a lease record, and provides version history with
- an audit trail for better financial controls.
- Excel Add-in reduces implementation costs with bulk
- import, streamlined bulk updates to existing data, and quick
- extraction of data.
- Integration with ERP, GL, AR, lease management, and internal
- systems simplifies lease accounting and reporting across
- multiple business segments, legal entities, or business units.
- Experienced Professional Services staff is available to help
- you quickly migrate data from existing systems and get you
- up and running.